MNI Asian Morning FI Technical Analysis

11 April 2018

By Kyle Shortland

Click below for today's MNI FI Technical Analysis Report -

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Topside Failure Pressures Key Support 

*RES 4: 97.935 - High Mar 15 

*RES 3: 97.923 - 200-DMA 

*RES 2: 97.910 - High Mar 28 

*RES 1: 97.865 - High Apr 10

*PRICE: 97.805 @ 2130GMT

*SUP 1: 97.795 - Low Apr 6 

*SUP 2: 97.745 - Low Mar 21 

*SUP 3: 97.705 - 2018 Low Jan 31 

*SUP 4: 97.605 - 2015 Low Dec 15 2015

*COMMENTARY: The marginal break above 97.860 lacked follow through with the

contract remaining offered and pressuring the 97.795 support. Bears continue to

look for a close below this level to shift focus back to 97.690-745 where

monthly lows are found. Bulls now look for a close above 97.865 to gain

breathing room and to return focus to 97.910-98.015 where key WMA and DMAs are

situated.

     AUSSIE 10-YR TECHS: (M18) Flirting With 100 & 200-DMAs 

*RES 4: 97.4400 - 2018 High Apr 3

*RES 3: 97.4000 - Hourly resistance Apr 3

*RES 2: 97.3600 - High Apr 9

*RES 1: 97.3150 - Hourly resistance Apr 10

*PRICE: 97.2950 @ 2130GMT

*SUP 1: 97.2750 - Alternating hourly support/resistance

*SUP 2: 97.2208 - 55-DMA

*SUP 3: 97.2100 - Low Mar 22

*SUP 4: 97.1750 - Hourly resistance Feb 23 now support

*COMMENTARY: Pressure continues to return to key DMAs with the contract flirting

with 100 (97.2862) & 200 (97.2877) DMAs. Overall the 97.1750 support remains

key. Bears need a close below this level to confirm a break of the 55-DMA and to

return focus to 97.0450-0800 where the LT bull channel base off 2008 lows is

situated. Bulls now need a close above 97.3600 to return initial focus to

97.4000-4400.

     US 10-YR FUTURE TECHS: (M18) 120-11 & 121-12 Levels Key This Week

*RES 4: 122-02  Monthly High Feb 6

*RES 3: 121-30+ 100-DMA

*RES 2: 121-12  High Apr 2

*RES 1: 121-05  High Apr 4

*PRICE: 120-24+ @ 2130GMT

*SUP 1: 120-19+ 21-DMA

*SUP 2: 120-17+ 55-DMA

*SUP 3: 120-16+ Low Apr 5

*SUP 4: 120-11  Low Mar 26 & 27

*COMMENTARY: Bulls take comfort from support emerging around the 21-DMA

(120-19+) last week and providing the base for a bounce Friday. The 120-11

support remains key this week. Bears still need a close below 120-11 to confirm

a break of DMAs & shift focus back to 119-14/21+. The 121-12 resistance remains

key also. Bulls need a close above this level to kick start topside momentum and

initially target 121-31+/122-02.

     US 10-YR YIELD TECHS: 2.859 Resistance Key This Week

*RES 4: 2.936 - High Feb 21 

*RES 3: 2.889 - High Mar 22 

*RES 2: 2.859 - High Mar 27 

*RES 1: 2.838 - High Apr 5

*PRICE: 2.801 @ 2130GMT

*SUP 1: 2.768 - Low Apr 6 

*SUP 2: 2.748 - Low Apr 4 

*SUP 3: 2.717 - Low Apr 2 

*SUP 4: 2.648 - Monthly Low Feb 6

*COMMENTARY: The yield continues to trade below 21 (2.816) & 55 (2.817) DMAs,

although follow through has been lacking, with bears now needing a close below

2.768 to add weight to the case for a test of 2.609-648 where the 100-DMA

(2.641) is found. The 2.859 resistance remains key this week. Bulls need a close

above to shift initial focus to tests of 2018 highs. Correcting O/S studies

remain a concern for bears.

     JGB TECHS: (M18) More 150.70-151.06 This Week

*RES 4: 151.19 - Monthly High Nov 22

*RES 3: 151.15 - 2018 High Mar 2

*RES 2: 151.06 - High Mar 12

*RES 1: 151.05 - Bollinger band top

*PRICE: 151.01 @ 2130GMT

*SUP 1: 150.96 - Hourly support Apr 11 

*SUP 2: 150.85 - Low Apr 9 

*SUP 3: 150.79 - Low Apr 6 

*SUP 4: 150.74 - 55-DMA

*COMMENTARY: Gains continue to define this week with focus back on 151.06 with a

close above adding support to the bullish case targeting 151.15-21 where 2018

highs are noted. Bears now look for a close below 150.96 to gain breathing room

and below 150.85 to shift focus back to the 150.64-73 support region where 55 &

200-DMAs are situated. The Bollinger band top is the key concern for bulls with

potential to limit follow through.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]